Nayib Bukele: Bitcoin Adoption in El Salvador Was Not As We Expected

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Nayib Bukele, the president of El Salvador who introduced the bill to make Bitcoin a legal tender in the nation, has stated that the results of this monetary experiment have been a mix of positive and negative.

In an interview, Bukele discussed the success of Bitcoin monetization and admitted that it has not had as widespread adoption as expected.

He stated that many Salvadorans are using it and most large businesses in the country have adopted it, but the overall adoption rate has been lower than anticipated.

Bukele emphasized that adoption of Bitcoin has been voluntary and the government has not forced anyone to use it.

He also highlighted the benefits of using Bitcoin, especially with its recent rise in value.

However, he expressed disappointment in the level of adoption, stating that he expected more given the country’s reputation as a free and open society.